World Record:135m Escape Poverty in Only 5 Years
In China 25 years ago, over 600 million people—two-thirds of the population—were living in extreme poverty (on $1 a day or less). Now, the number on $1 a day is below 180 million. In the world as a whole, a stunning 135 million people escaped dire poverty between 1999 and 2004. This is more than the population of Japan or Russia—and more people, more quickly than at any other time in history.
~The Economist Magazine, "The World's Silver Lining: In a Week of Financial Uncertainty We Look Behind the Headlines to a World That is Unexpectedly Prosperous and Peaceful"
2 Comments:
That whole article is a really good read. This is from a newspaper that has actually been predicting a recession for quite sometime now. But even it can stop for a moment, look back and gain some perspective on the achievements the world's economy has made over the past few years.
Its funny that after all this talk by all the philanthropic organizations, NGOs, governments, and bureaucracies about combating world poverty, it is simple unfettered free market capitalism that has done the most to lift people out of poverty. Sadly, this fact will be lost on the majority of the world's population.
Another triumph for classical economics. Imagine the global opportunities that have been created for a person born today rather than 100 years ago.
Staggers.
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